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Construction steel stocks at the 139 surveyed steelmakers across China continued to dwindle over April 12-18, with rebar and wire rod stocks being down 9.8% and 10.4% on week respectively, according to Mysteel's latest weekly survey released on April 20.
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Buying interest in hot-rolled coil has been waning in China with the national average benchmark price for the Q235B 4.75mm HRC up by Yuan 72/tonne ($11.5/t) week on week to Yuan 4,075/t including the 17% VAT as of April 20, market sources noted.
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Long steel stocks at the 139 surveyed steel plants across China declined for another week during April 6-12, lower by 9.2% on week, according to Mysteel's latest survey released on April 13.
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China's national average benchmark price for the Q235B 4.75mm hot rolled coil rose by Yuan 28/tonne ($4.4/t) from April 8 to reach Yuan 4,003/t including the 17% VAT as of April 13, as suppliers responded to renewed interest in buying among end users by continually lifting their offer prices, industry watchers said.
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Chinese trader and steelmaker inventories of five major steel products comprising rebar, wire rod, hot rolled and cold rolled coils and medium plate decreased over the April 8-12 period, falling by 5.1% and 6.5% on week respectively, according to Mysteel's latest weekly inventory surveys released on April 12 and April 13 respectively.
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The inventories of five major steel products including rebar, wire rod, HRC, CRC and medium plate both at the traders and steel mills decreased, down by 6.5% and 9.5% on week respectively over March 30-April 4 amid the continuing recovery in demand from the downstream users, according to Mysteel's latest weekly inventory surveys released on April 5 and April 8.
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China's national average benchmark price for the Q235B 4.75mm hot rolled coil went up Yuan 71/tonne ($11.4/t) from March 30 to Yuan 3,975/t including the 17% VAT as of April 8 amid the recovery in downstream demand and thus better sales, Mysteel noted.
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Long steel stocks at the 139 surveyed steel plants across China witnessed an obvious decline during March 30-April 5, down 12.22% on week, due to the rising demand both from downstream users and traders, according to Mysteel's latest survey released on April 7.
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Rebar stocks among the 139 steelmakers across China surveyed by Mysteel during the March 23-29 week rose for a fourth successive week to climb by another 0.97% on week to 3.62 million tonnes. However, wire rod stocks declined 0.86% on week to 1.06 million tonnes, according to the weekly survey results released on March 30.
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China's national average benchmark price for Q235B 4.75mm hot rolled coil dropped Yuan 40/tonne ($6.3/t) on week during the March 26-30 week to reach Yuan 3,904/t including the 17% VAT as of March 30, Mysteel's latest weekly survey showed. Traders facing pressure from April arrivals of coils were willing to lower their offer prices to lure buying, respondents said.
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Steel inventories among Chinese traders of the five major steel products comprising rebar, wire rod, hot rolled and cold rolled coils and medium plate declined further over March 26-30 as demand gradually picked up after the substantial price declines during the March 19-23 week.
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China's national average benchmark price for Q235B 4.75mm hot rolled coil dropped Yuan 157/tonne ($24.9/t) on week to Yuan 3,944/t including the 17% VAT as of March 23, Mysteel's latest weekly survey showed.
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Construction steel stocks at the 139 surveyed steelmakers across China continued to grow over the March 16-22 week, with rebar stocks climbing for a third successive week to edge up by another 1.6% on week to 3.58 million tonnes, according to Mysteel's latest weekly survey released on March 23. Wire rod stocks rose 4.4% on week to 1.07 million tonnes,
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China's national average benchmark price for Q235B 4.75 mm hot rolled coil inched up Yuan 4/tonne ($0.6/t) on week to Yuan 4,101/t including the 17% VAT as of March 16, Mysteel's latest weekly survey showed. Respondents said sales were showing some improvement while output was lower.
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Rebar stocks at the 139 surveyed steelmakers across China grew for the second week, up another 5.8% on week to 3.53 million tonnes over March 9-15 mainly because of higher output while remaining sullen demand amid price volatility, according to Mysteel's latest weekly survey released on March 16.
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Rebar stocks at the 139 steelmakers across China regularly surveyed by Mysteel climbed by 6.2% on week to 3.34 million tonnes over the week of March 2-8 amid a lacklustre market as downstream demand has not recovered as quickly as expected, according to Mysteel's latest weekly survey released on March 9.
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China's national average benchmark price for Q235B 4.75mm hot rolled coil dropped by Yuan 145/tonne ($23/t) on week to Yuan 4,097/t including the 17% VAT as of March 9, Mysteel's latest weekly survey showed. Market participants are growing cautious on noting the slow revival in actual demand, respondents said.
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Rebar and wire rod stocks at the 139 surveyed steel mills across China dropped by 5.6% and 6.7% respectively week on week with the rises in traders' buying starting the period of February 23-March 1, according to Mysteel's latest survey released on March 2.
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China's national average benchmark price for the Q235B 4.75mm hot-rolled coil went up Yuan 80/tonne ($12.7/t) on week to Yuan 4,242/t including the 17% VAT as of March 2 amid better market sentiment, Mysteel's latest weekly survey showed.
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The inventories of five major steel products including rebar, wire rod, HRC, CRC and medium plate at the traders surged 11.6%, while at the surveyed steel mills down 7.5%, both week on week, mainly due to the gradual revival in demand from traders during February 26-March 2 after the official Chinese New Year holiday, according to Mysteel's latest survey released on March 2.
